Saudi MoF completes $57.8bn payment orders in first quarter of 2021

Public sector payments amounted to SR186 billion. (Reuters)

RIYADH: The Ministry of Finance (MoF) finalized the disbursement procedures for all payment orders received from the public and private sector with a total value of SR217 billion ($57.8 billion) in the first quarter of 2021, according to a ministerial tweet.
Expenditure for the public sector amounted to SR186 billion, while the same for the private sector reached SR31 billion, accounting for 99 percent of the total payments’ orders received.
Saudi Finance Minister Mohammed Al-Jadaan said that 24 local companies, the majority of which are listed in the Saudi market, will invest SR2 trillion by 2025, and another SR3 trillion by 2030, Al Arabiya reported.
Al-Jadaan indicated that the Public Investment Fund is a shareholder in most of these companies.